Investcorp, China Resources to acquire majority stake in Hong Kong's high-end retailer
Bahrain-based Investcorp and China Resources Capital Management Limited (CR Capital Management) will acquire a majority stake in City Super Group, a Hong Kong-based high-end supermarket chain. CR Capital Management is the alternative investments arm of China’s state-owned conglomerate, China Resources Holdings. The transaction is expected to be completed by the fourth quarter of this year, subject to Chinese regulatory approvals.
Kenya: Tuskys counts on new supplier deal to recover
Tuskys is banking on a new restocking deal with suppliers to replenish its stores countrywide, as part of its revival strategy after months of turbulence. The new deal gives suppliers access to a portal, giving them visibility of their supplies and sales from each store, head of business development-John Muitiriri said. Supplier debt coupled with a drop in business in the retail space, occasioned by Covid-19, has in the last 2 months threatened its business, with the retailer forced to close some branches on reduced cash flow.
UAE: Dubai Economy facilitates alliances between Emirates Cooperative Society, talabat, Careem and Dukkaani
Dubai Economy has facilitated strategic alliances between Emirates Cooperative Society, Dubai’s leading grocer and supermarket chain, with online fulfillment partners talabat, Careem and Dukkaani for enhancing convenience and contactless shopping for customers across Dubai.
Denmark: Coop names Kræn Østergård Nielsen as new CEO
Coop Denmark has announced the appointment of executive vice president Kræn Østergård Nielsen as its new CEO. Nielsen joined Coop Denmark in 2014 and has held several positions in the company including that of property director, technology director and member of the executive board as CFO.
UK: Iceland creates 3000 new jobs amid online boom
Iceland has created 3000 new jobs to cope with the surge in demand for online groceries since the lockdown in March, the grocer said. Bosses revealed that online orders surged by more than 300% since April as shoppers rushed to book delivery slots and all non-essential retailers shut their doors due to the pandemic. The new jobs include extra delivery drivers and more staff in stores for picking online orders, Iceland added.
India: KKR in advanced talks for $1bln Reliance Retail stake
KKR & Co. is in advanced talks to invest at least $1bln in the retail business of Indian billionaire Mukesh Ambani, according to people familiar with the matter, in what could be another U.S. investment in the unit following Silver Lake’s deal. KKR is in discussions for a stake in Reliance Retail Ventures Ltd., a unit of the largest retailer in India, said the people, who asked not to be identified because the information isn’t public. The private equity firm could invest as much as $1.5bln and an announcement could come as soon as this month, one of the people said.
Amazon appoints new UK country manager
Amazon announced John Boumphrey, formerly vice president of its European fashion division as the new boss to lead Amazon’s UK operations. Boumphrey succeeds Doug Gurr who stepped down in June to become director at the Natural History Museum in London. He will start his new role as UK country manager in mid-November. Boumphrey first joined the business as Amazon’s UK media director 9 years ago and ever since he has held several roles across the business’s leisure, home, and consumable good categories.
UK: Sainsbury’s to reward bonus Nectar points to customers who buy more fruit and veg in month-long challenge
Sainsbury’s customers can make their Nectar points balance go further by stocking up on fruit and vegetables, with a brand-new tracker available on the Nectar app and website for a limited time. ‘The Great Big Fruit and Veg Challenge’ runs from Monday 7 September to Sunday 4 October and invites customers to play along when they buy more fruit and vegetables by rewarding them with bonus Nectar points, which can be spent at partners including Sainsbury’s, Argos, eBay and ASOS amongst others.
Austrian supermarket chain SPAR not coming to Serbia
The Austrian supermarket chain Spar currently has no plans to come to the Serbian retail market, Christian Sperger, project development manager at ASPIAG told Retail Serbia. On the other hand, according to the Retail Serbia website, the Russian retail group Torgservis is preparing to enter the Serbian market. According to unofficial information, ASPIAG (Austria Spar International AG), as the owner of the Spar license for Serbia, examined the Serbian market but the management renounced the investment presumably due to the high price of the commercial spaces.
UAE: Carrefour expands into DIFC and introduces the region's first automated click & collect service
Carrefour, operated in the UAE by Majid Al Futtaim, has expanded its offering to the Dubai International Financial Centre (DIFC) community while introducing new innovative technology to the region. Visitors to Gate Avenue at DIFC will now have access to Carrefour’s unbeatable offers at its latest store and enjoy the flexibility of shopping through the automated Click & Collect Self-Service. The new service will dispense online grocery orders to customers through a dedicated robot, providing a convenient alternative to online deliveries.
Thai e-commerce firm JD Central to ramp up seller support amid pandemic
Thailand's JD Central plans to expand infrastructure and technology to support sellers after the coronavirus pandemic has boosted sales at the e-commerce platform, its chief executive said. JD Central, a venture between China's JD.com Inc and Thai retailer Central Group, said consumer behaviour changed rapidly, but sellers including brands and retailers had not been able to keep up with the digital transformation.
ALDI U.S. joins U.S. Plastics Pact, committing to meet ambitious circular economy goals by 2025
ALDI U.S. has joined the U.S. Plastics Pact, a collaborative, solutions-driven initiative aimed at creating a path towards a circular economy for plastics in the United States by 2025. The first North American Pact of its kind, the U.S. Plastics Pact is a collaboration led by The Recycling Partnership, World Wildlife Fund (WWF) and Ellen MacArthur Foundation and sets a strategy to create scalable solutions across sectors in an effort to drive significant change.
US: PriceSmart announces August net merchandise sales and earnings release
PriceSmart, Inc. announced that for the month of August 2020 net merchandise sales increased 0.9% to $262.4mln from $260.0mln in August a year earlier. Foreign currency exchange fluctuations impacted net merchandise sales negatively by 3.9%, or $10.1mln versus the same one-month period in the prior year. There were 46 warehouse clubs in operation at the end of August 2020.
Metro Canada expands food waste app roll-out
Metro Inc. is accelerating the roll-out of the FoodHero app to almost 100 stores, following a successful pilot over the last 9 months. Launched last May, the FoodHero app enables customers to save 30-50% on unsold products that are close to their expiry dates. Following a pilot in five Metro stores in Montreal, over 30,000 products were sold via the app. Through the app, customers can see which products are available at stores within the area and purchase directly through the app. The products are subsequently collected at the store by the customer, although some retailers may offer a delivery option.